DOCSLIB.ORG

Annual Report 2018 Performance at a Glance

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2018 Performance at a Glance Annual Report 2018 Performance at a Glance Companies held by M.M.Warburg & CO Gruppe GmbH in EUR million 2018 2017 Net income before taxes –10.3 17.4 Net interest income 45.2 49.2 Net fee and commission income 121.4 175.1 Administrative expenses (including depreciation, 173.3 229.8 amortization, and writedowns) Total assets 5,763.8 7,385.0 Business volume 5,798.9 7,425.7 Own funds 390.2 469.3 Bank in EUR million 2018 2017 Net income before taxes 7.1 27.0 Net interest income 36.6 37.7 Net fee and commission income 79.4 94.0 Administrative expenses (including depreciation, 127.0 145.5 amortization, and writedowns) Total assets 5,491.3 5,424.2 Business volume 5,525.0 5,463.7 Own funds 377.9 384.8 Table of Contents Governing Bodies of M.M.Warburg & CO (AG & Co.) KGaA 4 Report of the Partners 7 Overview of the Warburg Group 15 Economic Environment The Warburg Group The Warburg Group’s Business Areas 20 Investment Banking Corporate Banking Corporate Finance Markets and Institutional Banking Private Banking Asset Management Warburg Invest Warburg Digital Warburg Navigator W&Z FinTech GmbH Compliance, Anti-money Laundering, and Data Protection 32 Employees 34 MARCARD, STEIN & CO AG 37 M.M.Warburg & CO Hypothekenbank AG 39 Report of the Supervisory Board 40 Condensed Annual Financial Statements of 41 M.M.Warburg & CO (AG & Co.) KGaA as of December 31, 2018 Balance Sheet Income Statement Notes (Extracts) Addresses 75 3 Governing Bodies Supervisory Board Dr. Christian Olearius – Chairman – Max Warburg – Deputy Chairman – Dr. Bernd Thiemann Shareholders’ Committee Dr. Christian Olearius – Chairman – Banker Max Warburg – Deputy Chairman – Banker Dr. Bernd Thiemann Management Consultant Prof. Burkhard Schwenker Management Consultant Dr. Henneke Lütgerath Chairman of the Board of the Joachim Herz Stiftung Partners Joachim Olearius – Spokesman – Eckhard Fiene until October 31, 2018 Dr. Peter Rentrop-Schmid Patrick Tessmann from December 1, 2018 4 Senior Executives Executive Directors Manfred Bruhn Volker Hahnau until September 30, 2018 Dr. Jens Kruse Dr. David Lohmann Thomas Schult until October 31, 2018 Henry Werkmeister from November 1, 2018 Dominik Wilcken Chief Legal Counsel Dr. Christoph Greiner Directors Dr. Jan-Frederik Belling Ingrid Kindsmüller Henning Voigt Regina Bendner Ken Kinscher Björn Voss Uwe Boehmer Marco Klein Martin Wehrle Joachim von Borstell Peter Klose Daniel Wendig Kerstin Gräfin von Bothmer Carsten Klude Thomas Wieneke Ulf-Dieter Brandt Dr. Marc Klünger Till Wrede Rainer Brombach Thorsten Komm Dr. Ralf Budinsky Jutta Kuhn Andreas Büttner Dr. Philip Marx Detlev Clauss Dominik Masson Martin Dörscher Rainer van der Meirschen Jens Dose Oliver Merckel Sandra Duttke Sven-Michael Nareyka Barbara Effler Markus Neumann Klaus-Dieter Engel Marc Niemann Boris Fischer-Zernin Paul Recum Matthias Fritsch Matthias Rode Richard Göbel Christian Rose Marcus Hagel Dirk Rosenfelder Dr. Ingo Hansen Klaus Schilling Friedrich Henne Christian Schmaal Dr. Christian Hennig Joachim Schmidt Christoph Herms Andreas Siadak Mirco Himmel Klaus Sojer Guido Hupe Christian Speer Daniel Hupfer Achim Urbschat Dr. Christian Jasperneite Jörn Voderberg 5 Senior Executives Branches Branch Managers Hanover: Patrick Tessmann from December 1, 2018 Berlin: Daniel Bresser Heinrich Wittig Bremen: Tobias Klemptner Stuttgart: Marcus Ebert Executive Directors Berlin: Alexander Föhre Bremen: Willem René Bezemer until December 31, 2018 Directors Hanover: Detlef Reinecke Martin Schilling Berlin: Dr. Frank Geilfuß Frank Glagow Volkwin Seltmann Braunschweig: René Laux Stuttgart: Manfred Hölldorfer Wolfgang Raich Daniela Richardson-Gertz 6 Report of the Partners 7 Report of the Partners Report of the Partners 2018 was a year that saw major changes in Germany. What had felt like immutable certainties in many areas ceased to apply – in politics, in the economy, and even in sport. The fact that the German football team got knocked out in the first round of the World Cup – something that came like a bolt from the blue for many football fans – was just one example. In the area of politics, the election results showed the difficulties that mainstream parties are having in retaining voters; disenchantment with politics is causing acceptance problems for the peoples’ parties. Increasingly, Germans doubt the ability of their political representatives to solve the problems currently facing the country. At the end of October, the Federal Chan- cellor announced that she would gradually retire from all her political offices. Momentum in the German economy eased overall despite sound global growth. Although the employ- ment rate reached a new high and consumer prices rose to just below the ECB’s target, po- litical risks in particular – and especially fears of a global trade war, the uncertainties sur- rounding Brexit, and Italy’s political debt crisis – had a negative impact. The ECB continued to pursue its expansionary monetary policy in 2018, keeping key interest rates and deposit rates unchanged. Its bond purchase program was discontinued as previously announced. The DAX turned in a negative annual performance for the first time in six years, falling by roughly 18%. Mission and Strategy 2018 was the 221st year of M.M.Warburg & CO’s business as an independent, middle-mar- ket private bank. For more than two centuries, its private shareholders have nurtured the philosophy and values on which its operations are based: independence, responsibility, dis- cretion, and trust. The banking sector continues to be in the throes of fundamental change: new technologies and media are rapidly accelerating information flows, regulatory requirements are increas- ing even further, and new competitors are challenging incumbents. Competition for the heart of private banking – customer relationships – is becoming fiercer and fiercer. In addition, the substantial effort and expenditure associated with meeting increased regulatory requirements – such as the rulebooks with acronyms such as MiFID II, MiFIR, PRIIPR, PSD II, and the GDPR – is continuing. Ongoing pressure on bank margins from the persistent low interest rate environment in 2018 meant that opportunities to generate income on the liabilities side of the balance sheet was limited. The challenge was to combat this trend and take key strategic decisions for the future. A centuries-old tradition can only be established by constantly reviewing and enhancing one's own business model. M.M.Warburg & CO’s aim is to build and maintain personal, trusting, multigenerational relationships with clients and business partners in the digital age, too. Our system of values and our accurate feel for the market are the foundation for our work as a reliable partner for middle-market businesses offering optimum, forward-looking concepts, state-of-the-art products and robust, customized solutions for their needs and expectations. Warburg Bank’s clients are mainly drawn from high net worth private individuals, com- pany owners and middle-market companies, the shipping industry, institutional clients and foundations and, increasingly, private investors who use the services provided via its digital channels. They all benefit from the extensive, end-to-end range of products and services offered by the Bank’s Private Banking, Investment Banking, and Asset Management units. 8 Report of the Partners The substantial expertise and experience offered by the Bank's head office in the heart of Hamburg and its branches and offices in nine other German cities are at the heart of its holistic, customized advisory services, which focus on both business and personal goals and cover everything from corporate finance to private asset management. These are supple- mented by specialized products and services offered by the Bank’s asset management com- panies WARBURG INVEST KAPITALANLAGEGESELLSCHAFT MBH and Warburg In- vest AG, by family office bank MARCARD, STEIN & CO AG, by Warburg Research GmbH, and by M.M.Warburg & CO Hypothekenbank AG. The Bank’s corporate and group structure features clearly defined hierarchies and an organization that is aligned with the business model. After Eckhard Fiene stepped down as a partner at the end of October, Patrick Tessmann was appointed as a new partner, meaning that the Bank continues to be managed by three part- ners. At the level of the Executive Directors, Volker Hahnau and Thomas Schult retired after decades of service with the Bank. The Warburg Group implemented large portions of its realignment process in 2018. The sale of its banking subsidiary and asset management company in Luxembourg, which was initiated last year, has now been completed. This has allowed the Warburg Group to eliminate cross-border supervisory complexity and to focus on its regional presence in Germany. A new corporate design covering all Warburg brand units at all locations has created a uniform visual identity and allows clear brand recognition. Now that the banking subsidiaries have been successfully merged with the parent com- pany, the Partners have launched a strategic efficiency plan that is designed to ensure the Warburg Group’s ability to compete as a middle-market bank. This involves a continuous review of its structures, processes, workflows, and systems, of the way in which its individ- ual units plug and play with each other, and of the expansion of its business operations, and making strategic adjustments where required. Flexibility and adaptability, but also cost M.M.Warburg & CO Gruppe GmbH M.M.Warburg & CO (AG & Co.) KGaA, Hamburg Offices: Frankfurt,
Load more

Recommended publications
  • Does Central Bank Independence Frustrate the Optimal Fiscal-Monetary Policy Mix in A
    Does Central Bank Independence Frustrate the Optimal Fiscal-Monetary Policy Mix in a Liquidity Trap? By Paul McCulley, Chair, GIC Global Society of Fellows and Zoltan Pozsar, Visiting Scholar, GIC Global Society of Fellows Paper to be presented at the Inaugural Meeting of the Global Interdependence Center’s Society of Fellows on March 26, 2012 at the Banque de France, Paris March 26, 2012 Abstract “[T]he role of an independent central bank is different in inflationary and deflationary environments. In the face of inflation, which is often associated with excessive [government borrowing and] monetization of government debt, the virtue of an independence central bank is its ability to say “no” to the government. [In a liquidity trap], however, excessive [government borrowing] and money creation is unlikely to be the problem, and a more cooperative stance on the part of the central bank may be called for. Under the current circumstances [of a liquidity trap], greater cooperation for a time between the [monetary] and the fiscal authorities is in no way inconsistent with the independence of […] central bank[s], any more than cooperation between two independent nations in pursuit of a common objective [or, for that matter, cooperation between central banks and fiscal authorities to facilitate war finance] is consistent with the principle of national sovereignty.” Governor Ben S. Bernanke 1 Section I - Introduction The United States and much of the developed world are in a liquidity trap. However, policymakers still have not embraced this diagnosis which is a problem as solutions to a liquidity trap require specific sets of policies.
    [Show full text]
  • Felix Warburg and the Impact of Non-Zionists on the Hebrew University
    FELIX WARBURG AND THE IMPACT OF NON-ZIONISTS ON THE HEBREW UNIVERSITY: 1923-1933 By Jeffrey Lawrence Levin Submitted to the Faculty of the College of Arts and Sciences of American University in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy In Dean of the College of Arts and Sciences Date 2018 American University Washington, D.C. 20016 © COPYRIGHT By Jeffrey Lawrence Levin 2018 ALL RIGHTS RESERVED ii FELIX WARBURG AND THE IMPACT OF NON-ZIONISTS ON THE HEBREW UNIVERSITY: 1923-1933 BY Jeffrey Lawrence Levin ABSTRACT This dissertation addresses the impact on the founding of the Hebrew University of the group of individuals known as non-Zionists. Using the personage of Felix Warburg as an entrée into the origins of this cohort, it argues that the Hebrew University, like the Yishuv itself, was based on a wide spectrum of adherence to orthodox Zionism. Rather, there were many contributors who felt less strongly inclined towards Zionism than did Chaim Weizmann, and these individuals played a substantive role in shaping the course of the Jewish settlement in Palestine Felix Warburg, a naturalized American citizen born into a wealthy Hamburg banking family, is a perfect example of how support for the Hebrew University, the Jewish Agency, and the Yishuv did not require one to advocate for the future creation of a Jewish nation-state. Prior to his significant involvement with issues in Palestine, the main focus of Warburg’s philanthropy was in alleviating the abhorrent conditions of Jews in the Soviet Union and of those Jews who had recently emigrated to the United States and badly needed assistance in acculturating to New York City society.
    [Show full text]
  • Remembrance of Things Past. on Aby M. Warburg and Walter
    GRATIA Matthew Rampley Bamberger Schrifren zur Renaissanceforschung The Remembrance In Verbindung mit Stephan Füssel, Reinhold F. Glei und Joachim Knape herausgegeben von Dieter ìØuttke of Things Past 35 On Aby M. Varburg and \Øalter Benjamin o 2000 2000 Flarrassowitz Verlag . Viesbaden Harrassowitz Verlag ' Viesbaden prt 5 5tz*' //+ u 7 ü Bibliothek varburg, Hamburg cover illustration: Front Façade of the Kulturwissenschaftliche (Photo: \Warburg Institute) For Peter Barnett Die Deutsche Bibliothek - CIP-Einhcitsaufnahmc Bibliothek Ein Ti,"l.l","nr.r, für diese Publikation is¡ bci Der Dcutschen erhältlich Die Deutsche Bibliothek - CIP Cataloguing-in-Publication-Data À."rnlogu" r."ord for this publication is available from Die Deutsche Bibliothek e-mail: [email protected] O Otto Harrassowitz, Viesbaden 2000 This work, including all of its parts, is protected by copyright' Any use beyond the limits of copyright lav¡ without the permission of th" p.tblirh.. is forbidden and subject to penalty- This applies particula.ly to reproductions, translations, microfilms and storage and processing in electronic systems' Priniing and binding by Hubert 8c Co', Göttingen Printed on permanent/durable paper' Printed in GermanY ISSN 0343-1258 ISBN 3-447-04299-0 Table of Contents List of Illustrations 9 Introduction. 11 Mimesis and Experience 15 From Serpent Ritual to Cosmic Allegory 35 The Meaning of the Renaissance 51 Aura and Memory 73 Conclusion 101 Notes. .. 103 Bibliography 131 List of Illustrations Figure I Frontespiece of the Warburg Institute copy
    [Show full text]
  • Images from the Region of the Pueblo Indians of North America / Aby M
    Images from tbe Region of tbe Pueblo Indians of Nortb America IMAGES frOtn the Kegion of the Pueblo Indians of North Atnerica AHY M. WARHURG Translated with an interpretive essay by MICHAEL P. STEINBEKG CORNELL UNIVERSITY PRESS Itbaca and London The translation of Bilder aus dem Gebiet der Pueblo-Indianer in Nord-Amerika is published by arrangement with the Warburg Institute, University of London. Copyright © 1995 by Cornell University All rights reserved. Except for brief quotations in a review, this book, or parts thereof, must not be reproduced in any form without permission in writing from the publisher. For information, address Cornell University Press, Sage House, 512 East State Street, Ithaca, New York 14850, or visit our website at www.cornellpress.cornell.edu. First published 1995 by Cornell University Press. Library of Congress Cataloging-in-Publication Data Warburg, Aby, 1866–1929. [Bilder aus dem Gebiet der Pueblo-Indianer in Nord-Amerika / English] Images from the region of the Pueblo Indians of North America / Aby M. Warburg ; translated with an interpretive essay by Michael P. Steinberg. p. cm. Includes bibliographical references. ISBN 978-0-8014-2973-6 (cloth : alk. paper) ISBN 978-0-8014-8435-3 (pbk. : alk. paper) 1. Pueblo Indians—Religion. 2. Serpent worship. I. Steinberg, Michael P. II. Title. E99.P9W32 1995 299′.784—dc20 95-9564 The text of this book is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License: https://creativecommons.org/licenses/by-nc-nd/4.0/ Contents Prefatory Note VIl List of Illustrations Xl Aby M. Warburg, IMAGES FROM THE REGION OF THE PUEBLO INDIANS OF NORTH AMERICA I NOTES 55 Michael P.
    [Show full text]
  • Aby Und Max Warburg Im Dialog Über Hamburgs Geistige Zahlungsfähigkeit Von Karen Michels Mäzene Für Wissenschaft
    „Es muß besser werden!“ Aby und Max Warburg im Dialog über Hamburgs geistige Zahlungsfähigkeit von Karen Michels Mäzene für Wissenschaft hg. von Ekkehard Nümann Gefördert von der Böttcher-Stiftung Den Familien gewidmet, die durch ihre hochherzigen Stiftungen vor 108 Jahren die Gründung der Hamburgischen Wissenschaftlichen Stiftung ermöglicht und den Grundstein dafür gelegt haben, dass die Stiftung auch heute noch Forschung, Lehre und Bildung fördern kann. Inhalt Vorwort des Herausgebers . S. 3 1. Quellenlage . S. 4 2. Der Familien- und Firmengründer Georg Friedrich Vorwerk . S. 6 3. Zur Kindheit und Jugend der Vorwerk-Brüder . S. 15 4. Eine Reise von Augustus Friedrich nach Nordamerika und Kuba . S. 23 5. Die Firmen in Chile und Hamburg . S. 28 6. Friedrich, Adolph und deren Ehefrauen in den Erinnerungen dreier Enkel . S. 44 7. „Villa Josepha“ und „Haupthaus“ . S. 54 8. Gustav Adolph als Bau- und Gartengestalter . S. 60 9. Entwicklungen nach dem Tod der Brüder . S. 67 10. Anhänge . S. 70 11. Literatur . S. 72 12. Namensregister . S. 74 Inhalt Vorwort des Herausgebers . 4 Vorwort . 5 1. Einleitung . 10 2. Was willst Du mit Kunstgeschichte? . 14 3. Lehr- und Wanderjahre: „Es muß besser werden!“ . 22 4. Wie man sich in Hamburg eine Existenz aufbaut . 33 5. Die Hamburgische Wissenschaftliche Stiftung oder Kaufleute als „Ducatenmännchen“ . 56 6. 1918: „Unser Krieg“ und „die Judenfrage“ . 68 7. Neues Denken: Was hat man aus dem Krieg gelernt? . 75 8. Überzeugte Europäer . 81 9. Max Warburg verabschiedet sich selbst . 96 10. Zum Schluss . 98 11. Anhänge . 100 Stammtafel (Auszug) . 100 Aby und Max Warburgs Lebensdaten im Überblick . 102 12.
    [Show full text]
  • HITLER's SECRET BACKERS by Sidney Warburg
    HITLER'S SECRET BACKERS by Sidney Warburg EDITOR'S INTRODUCTION The book you are about to read is one of the most extraordinary historical documents of the 20th century. Where did Hitler get the funds and the backing to achieve power in 1933 Germany? Did these funds come only from prominent German bankers and industrialists or did funds also come from American bankers and industrialists? Prominent Nazi Franz von Papen wrote in his MEMOIRS (New York: E.P. Dutton & Co., Inc. 1953) p. 229, "... the most documented account of the National Socialists' sudden acquisition of funds was contained in a book published in Holland in 1933, by the old established Amsterdam publishing house of Van Holkema & Warendorf, called DE GELDBRONNEN VAN HET NATIONAAL SOCIALISME (DRIE GESPREKKEN MET HITLER) under the name 'Sidney Warburg.' The book cited by von Papen is the one you are about to read and was indeed published in 1933 in Holland, but remained on the book stalls only a few days. The book was purged. Every copy -- except three accidental survivors -- was taken out of the bookstores and off the shelves. The book and its story were silenced -- almost. One of the three surviving copies found its way to England, translated into English and deposited in the British Museum. This copy and the translation were later withdrawn from circulation, and are presently "unavailable" for research. The second Dutch language copy was acquired by Chancellor Schussnigg of Austria. Nothing is known of its present whereabouts. The third Dutch survivor found its way to Switzerland and in 1947 was translated into German.
    [Show full text]
  • Liquidating Bankers' Acceptances: International Crisis, Doctrinal Conflict and American Exceptionalism in the Federal Reserve 1913-1932
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Adam, Marc Christopher Working Paper Liquidating bankers' acceptances: International crisis, doctrinal conflict and American exceptionalism in the Federal Reserve 1913-1932 Diskussionsbeiträge, No. 2020/4 Provided in Cooperation with: Free University Berlin, School of Business & Economics Suggested Citation: Adam, Marc Christopher (2020) : Liquidating bankers' acceptances: International crisis, doctrinal conflict and American exceptionalism in the Federal Reserve 1913-1932, Diskussionsbeiträge, No. 2020/4, Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft, Berlin, http://dx.doi.org/10.17169/refubium-26501 This Version is available at: http://hdl.handle.net/10419/214244 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen)
    [Show full text]
  • Katia Mazzucco
    The work of Ernst H. Gombrich on the Aby M. Warburg fragments Katia Mazzucco The file of documentary materials entitled Geburtstagsatlas (the Birthday Atlas) is preserved at the Warburg Institute Archive in London as a draft of the incomplete Warburg Mnemosyne project by Ernst H. Gombrich. This work, realized in collaboration with Fritz Saxl and Gertrud Bing, was given to Max Warburg for his seventieth birthday, on 5 June 1937. On 1 January 1936, Ernst Gombrich arrived in London from Austria.1 His task was to reorganize the last of Warburg’s fragments and, in particular, to revise what was left of the incomplete Mnemosyne Atlas. The goal of this study and inventory was to collate Warburg’s uncompleted studies with the purpose of putting together an English publication of his collected work. However, in 1970, the only result of this publishing endeavour was included in the pages of the famous Aby Warburg. An intellectual biography.2 This is how and when the story of the second hand readings of Warburg – by the fortune of Gombrich’s book – started out. The undertaking appeared to reach conclusion, in the Anglo-Saxon world, only much later, in the year 1999, with the published translation of Warburg’s Gesammelte Schriften, edited by the Getty Research Institute.3 The history of the intellectual, as well as critical, relationship between Gombrich and Warburg is, then, a posthumous one that was started on British soil. Further marking this distance are the different historical periods, as well as the cultural and intellectual divides that separate the two scholars.
    [Show full text]
  • Financial Innovation and the Descent of Money Reading Niall Ferguson on Siegmund Warburg1
    1 Financial innovation and the descent of money Reading Niall Ferguson on Siegmund Warburg1 Professor Sam Whimster, GPI Working Paper, 23 March, 2015 Niall Ferguson’s biography of Siegmund Warburg probably came out just in time, in 2010, to be taken up as a topical work on a major City figure. Now some five years later one has to doubt whether the name of Siegmund Warburg signifies much at all. What was intended as a work to mark and celebrate the life of a financier now reads, just as validly, as an important work of historical scholarship. The attraction now lies in seeing how a career of heroic financial innovation has become submerged by a world of financial mayhem on an industrial scale to the extent that it is no longer possible to talk in terms of the banking values that so animated Siegmund Warburg - what he called the feu sacré. Learning from Weimar Unlike his famous uncles (Aby, Max, Paul, Felix and Fritz – the so-called Mittelweg Warburgs) who belonged to a particular bourgeois Jewish milieu in Hamburg, Siegmund was brought up in pastoral Swabia some miles south of Stuttgart. Work and a reflexive perfection in work were traits implanted by his mother. He was 17 when the Wilhelmine Kaiserreich fell to pieces, and his youthful heroes were the action man figures of Max Weber and Walter Rathenau, the one creating a political framework for a new Germany, the other an economic model for regenerating a backward economy. Siegmund belonged to the ‘gebildete’ class, fully educated in the classics, Schiller and Goethe, but especially drawn to the modernist novels of Thomas Mann.
    [Show full text]
  • Portrait Torsten Schmidt, PORTER, with M.M.WARBURG & CO SINCE 1975
    THE INDEPENDENT PRIVATE BANK portrait TORSTEN SCHMIDT, PORTER, WITH M.M.WARBURG & CO SINCE 1975 “Our clients get a warm welcome … even before they enter the building.” TORSTEN SCHMIDT, PORTER, WITH M.M.WARBURG & CO SINCE 1975 “Our clients get a warm welcome … even before they enter the building.” ANDREAS ECKHOFF, IN CLIENT SERVICES AT M.M.WARBURG & CO SINCE 1990 LUISA BAUER, AN EMPLOYEE OF THE M.M.WARBURG & CO CONVENIENCE TEAM SINCE 2005 “With us, you do your banking with people “We make sure that you feel at home when you visit us.” and not with a cash machine.” LUISA BAUER, AN EMPLOYEE OF THE M.M.WARBURG & CO CONVENIENCE TEAM SINCE 2005 “We make sure that you feel at home when you visit us.” A GATEWAY TO THE WORLD DR. CHRISTIAN OLEARIUS, SPOKESMAN OF THE GENERAL PARTNERS SINCE 1986 Welcome. Modesty and discretion are crucial characteristics, particularly in the ban- king business. These values have also guided us in preparing this document. All the same, we are pleased and even a little proud to present our Bank to you on these pages. m.m.warburg & co is one of the few truly independent private banks in Germany. All its capital is held solely by private individuals, while the Bank itself is managed by its co-owners. This independence from external influ- ence is one of our most important and most outstanding features. At the same time it forms the basis of our characteristics as a Bank and sets us apart from most of our peers. Furthermore, it allows us to weigh up oppor- tunities and risks solely in the interests of our clients.
    [Show full text]
  • Sympathy for the Devil: the Warburgs and the Ruin of the West
    Click here for Full Issue of EIR Volume 14, Number 48, December 4, 1987 Book Reviews Sympathy for the Devil: the Warburgs and the ruin of the West by David Goldman queathed to us. Attali himself is a fanatical malthusian,and he fairly drools over the prospect. A Man of Influence: The Extraordinary Surviving Sir Sigmund as chief of the Warburg dynasty Career of S.G. Warburg is his cousin, Eric Warburg of Hamburg, who figures in by Jacques Attali Attali's account as a minor character. The late Stefan Pos­ Adler and Adler, Bethesda, 1987 sony, an Hungarian emigre turned senior U. S. intelligence $22.50 hardbound, 380 pages with index. officer, told this reviewer before his death of his 1945 assignc ment to interrogate Eric Warburg----'then a lieutenant colonel How did our monetary system get into this godawful mess? in U.S. intelligence assigned to debrief the Nazi hierarchy­ Important pieces of the jigsaw puzzle appear in Jacques At­ on the Warburg role in the Bolshevik Revolution. U. S. mil­ tali's biographyof Sir Sigmund Warburg, in fact a collective itary intelligence files, Possony repOrted, showed that Eric's biography of the Warburg family. We learn much about who father Max, at the family bank in Hamburg,and Eric's uncle, financed Hitler's economicczar Hjalmar Schacht, and recon­ the financial attache at Germany's Stockholm embassy,con­ structed his team after the war; how the United States was duited the foreign ministry funds to Lenin which financed the swindled into turning the international lending markets over November 1917 Bolshevik coup.
    [Show full text]
  • Die Triumereien Einiger Kunstliebender Klosterbruder
    LUCAS BURKART >>Die Triumereien einiger kunstliebender Klosterbruder...<< Zur Situation der Kulturwissenschaftlichen Bibliothek Warburg zwischen 1929 und I933"- Die Bibliothek Warburg wurde unlangst von wissenschaftliche Bibliothek Warburg musste einem ihrer besten Kenner als der bedeutendste mit ihren acht jiidischen Mitarbeitern I933 nach deutsche Beitrag zur internationalen Kulturwis- London emigrieren, wo sie seit 1944 an die Uni- senschaft des zwanzigsten Jahrhunderts bezeich- versitat angeschlossen wurde. Die Vertriebenen net.' Dass sich dieser Beitrag bis heute erhalten fanden im Ausland eine bessere Wiirdigung: Ed- hat, verdankt sich dem Wegzug der Bibliothek gar Wind, den Warburg als geistigen Erben an- und ihrer Mitarbeiter im Dezember I933; von sah, wurde der erste Lehrstuhlinhaber fur Kunst- Hamburg nach London verlegt widmet sie sich geschichte in Oxford und Montreal, Raimund bis heute als The Warburg Institute der Frage Klibansky Professor in Oxford und Montreal, ihres Begriinders Aby Warburg nach dem Fortle- Erwin Panofsky Professor in Princeton.< Mit ben der heidnischen Antike in der Kultur der diesen Satzen schilderten die Herausgeber eines europaischen Vormoderne. Angesichts der gros- jiingst erschienen Sammelbandes iiber Warburg sen Bedeutung der Bibliothek ist es angebracht, das Schicksal der Bibliothek und ihrer Mitarbei- in wissenschaftshistorischer Perspektive nach ter.2 Vergleichbar schrieb Michael Diers in einem Motiven, Voraussetzungen, Bedingungen und Beitrag 1993, der an den Wegzug der Bibliothek Folgen des
    [Show full text]